The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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The GBP/JPY pair rose during the session on Thursday quite dramatically. In fact, the British pound did well against almost everything out there, and as a result it was one of the best days for the Pound that we have seen in what seems to be ages.
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The EUR/GBP pair has been evolving for several weeks in a consolidation pennant and is having difficulties to resume a clear bullish trend. Get this Forex signal for the pair here and learn what's next.
The WTI Crude market had a back and forth session during the Wednesday, as we continue to churn just below the $93.00 level. This level is resistive as I had anticipated, and as a result this does not surprise me.
Gold prices lost some ground against the greenback after the latest U.S. retail sales data came out stronger than expected. Data released from the Commerce Department showed that sales jumped 1.1% in February.
The EUR/USD pair did fall during the Wednesday session, continuing the general bearish attitude of the markets. This doesn't surprise me, I still believe that the Euro could fall farther, but we are certainly sitting on top of what can be best described as a "noisy area", down to the 1.28 level.
The GBP/USD pair rose during the session on Wednesday, as I had suggested could happen. However, I also suggested that the 1.50 level we continue to offer significant resistance, not only because of the former support, but also the large round psychological nature of the number.
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The USD/CAD pair again during the Wednesday session as the 1.0250 level acted in a supportive manner yet again. This pair has recently broken out above the 1.01 level, and as a result many technical traders, myself included, would have loved to seen some type of pullback to that level to prove it as being supportive now.
The AUD/CAD, like its cousin the AUD/USD shot upwards after the unemployment rate improved drastically last month. The numbers were in fact astounding, but now the pair faces a strong resistance level seen easiest on the Weekly chart below.
The XAU/USD pair is testing its moving average at 20 sessions. Get the details here with this free Forex signal.
The rebound in U.S. housing and consumer spending has translated broadly to the dollar strengthening as the possibility of an earlier end to Federal Reserve stimulus measures has traders betting on higher interest rates.
The WTI market shot higher during the session on Tuesday, but did run the quite a bit of resistance at the $93.00 level. This is the epicenter of a cluster of noise going all the way to the $94.00 level, and as a result this doesn't surprise me that the market found it difficult to overcome.
The XAU/USD pair closed higher than opening yesterday as the bulls gained some strength on media reports saying that large speculators and hedge funds started recovering their short positions recently.